Element Squared LLC Acquires New Shares in Rambus, Inc. $RMBS

Element Squared LLC acquired a new position in shares of Rambus, Inc. (NASDAQ:RMBS) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 23,567 shares of the semiconductor company’s stock, valued at approximately $2,027,000.

A number of other institutional investors also recently bought and sold shares of RMBS. Invesco Ltd. increased its position in shares of Rambus by 70.6% in the fourth quarter. Invesco Ltd. now owns 4,148,653 shares of the semiconductor company’s stock valued at $381,220,000 after buying an additional 1,716,621 shares in the last quarter. Norges Bank purchased a new stake in shares of Rambus in the 4th quarter worth about $156,356,000. Alliancebernstein L.P. boosted its position in shares of Rambus by 572.7% in the 3rd quarter. Alliancebernstein L.P. now owns 1,822,030 shares of the semiconductor company’s stock worth $189,856,000 after buying an additional 1,551,159 shares in the last quarter. Bank of America Corp DE grew its stake in Rambus by 196.0% in the 3rd quarter. Bank of America Corp DE now owns 1,550,665 shares of the semiconductor company’s stock valued at $161,579,000 after acquiring an additional 1,026,776 shares during the last quarter. Finally, Barclays PLC grew its stake in Rambus by 183.1% in the 3rd quarter. Barclays PLC now owns 894,906 shares of the semiconductor company’s stock valued at $93,249,000 after acquiring an additional 578,839 shares during the last quarter. 88.54% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

RMBS has been the subject of a number of research reports. Wells Fargo & Company lifted their target price on shares of Rambus from $115.00 to $145.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 28th. Robert W. Baird downgraded shares of Rambus from an “outperform” rating to a “neutral” rating and set a $120.00 price target on the stock. in a report on Tuesday, April 28th. Jefferies Financial Group increased their price target on shares of Rambus from $120.00 to $145.00 and gave the company a “buy” rating in a research report on Tuesday, April 28th. Evercore reissued an “outperform” rating and set a $172.00 price objective on shares of Rambus in a research note on Tuesday, April 28th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Rambus in a research report on Friday, June 5th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $130.43.

Insider Activity

In other Rambus news, Director Meera Rao sold 2,972 shares of the business’s stock in a transaction on Friday, April 24th. The stock was sold at an average price of $150.30, for a total value of $446,691.60. Following the completion of the transaction, the director directly owned 19,974 shares in the company, valued at approximately $3,002,092.20. The trade was a 12.95% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Necip Sayiner sold 5,000 shares of the stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $170.15, for a total value of $850,750.00. Following the transaction, the director directly owned 18,223 shares in the company, valued at approximately $3,100,643.45. This represents a 21.53% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 79,850 shares of company stock valued at $11,649,796 in the last 90 days. Insiders own 0.75% of the company’s stock.

Rambus Trading Up 7.1%

Rambus stock opened at $132.74 on Wednesday. The stock has a 50-day moving average price of $136.74 and a 200 day moving average price of $112.86. Rambus, Inc. has a 52 week low of $61.16 and a 52 week high of $174.10. The stock has a market cap of $14.35 billion, a PE ratio of 63.21 and a beta of 1.84.

Rambus (NASDAQ:RMBS) last released its quarterly earnings results on Monday, April 27th. The semiconductor company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.02. The company had revenue of $180.19 million for the quarter, compared to analysts’ expectations of $179.94 million. Rambus had a net margin of 31.90% and a return on equity of 17.41%. On average, equities analysts predict that Rambus, Inc. will post 2.44 EPS for the current year.

About Rambus

Rambus Inc is a technology licensing company specializing in semiconductor and system-level interface solutions. Founded in 1990 by Stanford University researchers Mike Farmwald and Mark Horowitz, Rambus established its headquarters in Sunnyvale, California. The company initially gained prominence by developing high-speed DRAM interface technology and securing a broad patent portfolio covering memory architecture, data signaling and power management innovations.

Today, Rambus licenses its proprietary intellectual property (IP) to semiconductor companies, original equipment manufacturers (OEMs) and system integrators worldwide.